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Number of UK serviced apartments to rise by 10% in 2014

Number of UK serviced apartments to rise by 10% in 2014

 

There are currently 13,000 serviced apartments in the UK, but this number is set to rise by more than 1,276 - an impressive growth of 10% - this year. This will be largely due to new openings of serviced apartments by members of ASAP or, as it is known in longhand, Association of Serviced Apartment Providers. 70% of these openings will take place in London, but several other areas of the country also seem likely to benefit from openings of new apartments. Furthermore, STREIF can help with construction of such apartments both in 2014 and well beyond thanks to its off site manufacturing services for apartment buildings.

 

Valuable off site manufacturing services from STREIF

 

Many organisations that have drawn upon off site construction services from STREIF will already be familiar with how effective these can be for making new timber homes. However, they might not realise how effective they can also be for making new timber apartment buildings. These services can be especially effective for this purpose due to, for example, the greater acoustic and fire rating needs and big diversity of wall types of multi-dwelling buildings. It is also worth considering that we are the UK's only self build timber frame system that has earned a BM Trada Q Mark.

 

Many apartments have already opened in 2014

 

Significant serviced apartments that have already opened in the UK since the beginning of the year include, in London, 159 apartments opened by Cheval Residences at the Tower of London in March and 161 apartments opened by StayCity in Greenwich. Furthermore, House of Fisher has opened 50 apartments in the Berkshire town of Reading, while Apple Apartments has opened 35 apartments in Belfast; the company already owned properties in London and Aberdeen.

 

More apartments in 2014 and 2015

 

James Foice, ASAP's Managing Director, has described the sight of many of his organisation's members opening new apartments as "very encouraging", adding that it proves "that the demand for serviced apartments from both the corporate and leisure sectors continues to grow strongly both in London and in key locations in the rest of the UK". He also noted that "ASAP members [are] already planning to open over 500 new apartments next year".